Level 3 Dissertation Proposal Sophie Crouchman N0557173
C
FIG 1
Contents 1. 2. 3. Preface
4.
7. 10. 13.
Idea One
FCP Lens
Idea Two
FCP Lens
Introduction
5.
8. 11. 14.
Cartogram
Further Research
Cartogram
Further Research
6.
9. 12. 15.
Overview
Consumer
Overview
Consumer
Conclusion
1. In order to prepare for the task of executing this third year report, I have referred to the FCP triangle in order to outline my current strengths and weaknesses. This will give me a clear direction as to which path I choose to pursue when exploring my potential dissertation topics. (See Appendix 1.)
I have always believed my strengths lean towards the creative aspect of FCP. However, it has become apparent over the past two years, my interests lie within consumer behavior and the thought processes behind the actions of a consumer. My creative side is reflected through my interest in technology, which is mirrored in the way society is eternally developing new techniques, due to the fast pace in which the world moves at. For me it’s important to ensure I am incorporating both these interests throughout my strengths for the topic in order move forward with my chosen focus.
FIG 2
2. Throughout the content of this report, I am going to explore the two ideas proposed for my third year dissertation. The first idea I am going to focus on is the study following the psychology behind why consumers buy into luxury brands and the perception that “when we buy these brands we’re buying into those stories, in the hope (conscious or not) that our lives will come to reflect them” (Drysdale, 2014). During this research I aspire to gain insight into the ideologies around the different consumer and the key motives behind why they buy luxury products. This would result in such companies becoming more aware of these insights, therefore allowing them to be applied to their marketing strategies to
increase sales and influence the mass market. For the latter idea, I propose to discuss the enhancement in technology within retail and the effects this will have on consumer behavior. Technology is used generously throughout retail display, often without the consumer knowing, creating ‘hot moments’ and impulse buys. However, as technology is constantly developing, this is only becoming more apparent as “Just like tracked online advertising, the latest generation of digital out-of-home media is capable of discerning the age, sex and ethnicity of the person looking at it“ (Still, 2015). I intend to gain an increase in knowledge behind this topic understanding how this information will allow companies to develop an insight behind who is looking at their advertising/products, therefore permitting them to adjust their marketing strategies to create ease within instore experience optimizing sales.
FIG 3
3. Statistically, the majority of the population has at least once in their lifetime made an impulsive buy and has absolutely no explanation behind it. Not only have they never really thought about it, but also they don’t understand their own brains and the way in which they buy. Studies show that ultimately people tell themselves that they buy into these high-end brands due to their high reputation of quality. This is often a common excuse made by an individual to justify their actions of a sudden impulse buy when questioned about it. “The problem is the feelings of self-worth engendered by the shopping are ephemeral” (Thau, 2012). Reading this quote made me interested in the true meanings behind what makes people purchase item after item. The general word ‘shopaholic’ gets thrown around
very lightheartedly alongside ‘chocaholic’ or ‘workaholic’, whereas the word ‘alcoholic’ seems to have a very different meaning. I want to explore this in depth as depression and compulsive buying often cross paths when the psychological side of consumption is mentioned. When conducting an initial focus group, it was clear to see that this is a common appearance through consumers of the generation Y band. Participant 2 stated, “I just buy all the time caus I think I’ve got a bit of a problem”. This comment was followed by a murmur of laughs by the rest of the focus group after statements were made like “I buy when I’m sad” or “when I’m emotionally unstable” (See appendix 2). It was clear to see that the participants were partially aware of the reasons behind what makes them splurge out but not necessarily the impacts this is having on them or the real psychological reasons behind them.
FIG 4
4. With this preliminary research being taken into consideration, it leads me to question if such psychological buying habits are projected across all aspects of ‘fashionable’ consumption. Studies show that purchasing an item or two subliminally make the buyer feel better. This statement is reflected more so on the consumption of luxury products due to the fact that “materialists are more likely to be compulsive buyers” (Howell, 2013). Following this, I would like to find out more about whether it is the physical expensive purchase that makes the consumer happy, or just in fact the physical possession being classed as theirs. I aim to target a certain market of people in which I will carry this study out on originally, but would then like to progress my research further by broadening the range and taking this experiment on to all demographical consumers.
FIG 5
5. In order to convey my secondary research, concerning the psychology behind buying, I conducted a cartogram that gave me an in depth insight into the topic (See Appendix 3). When looking into the different sections it was clear to see that the trend innovators indicated the definition of luxury. Figures show the top five luxury brands worldwide in 2013 with ‘Ralph Lauren’ being number one and ‘Coach’ number five (Plank and Cervantes, 2013). Both these brands sell a variety of products indicating luxury isn’t defined through certain merchandise, but the brand name that is selling it. Delving deeper into the topic and the way in which this information can benefit brands is shown through the trend drivers. Supermarkets have a specific way they lay out their stores to maximize sales through the way the brain buys, by placing fruit and vegetables at the front of the store, manipulating the consumer to not feel so guilty
about picking up unhealthy food later on in their shop (Underhill, 2009). This is something that is being bought into retail to create ease within in-store experience. The Asian market is being studied in order to maximize sales by breaking down the wants and needs of the consumer in different countries. This is a way in which such brands can adapt their marketing strategies to maximize their sales. The impact in which this is having on such trend is through the use of technology. Businesses are focusing on targeting their market through the way in which social media is being used. “Smartphones are a dominant method of connection to the web for millennials, with 89 percent of them using the devices to connect, vs. 75 percent who use laptops, 45 percent tablets and 37 percent desktop computers. Retailers therefore need to have a mobile first strategy if they want to stay relevant with this generation” (Gasca, 2015).
Companies are using research to find the best way to directly reach their target consumer. The consequence the trend is creating is the psychological side of buying being bought into practice. The brands are not only producing the products their consumers desire but are advertising such products to each individual consumer group in a way that is specific to them (Shukla, 2015). The future of this subject is leading to the demographics of a market being broken down into new innovative sectors. These include ‘patricians’, the older generation that like to show that they are wealthy through their consumption of brands. The ‘parvenus’, the young generation that are beginning to earn a substantial amount of money that can fund them for an individual expensive item every so often to let others know their ‘wealth’. The ‘poseurs’, those that can’t afford authentic luxury products and therefore buy counterfeit items to fit in with
FIG 6
the consumer category that does. And finally, the ‘proletarians’, the consumer group that are uninterested in buying into luxury brands (Drysdale 2014). These market segments can be approached in different ways through print advertising and technology in order to maximize sales for luxury companies.
6. The consumer I aim to focus on throughout my research topic is primarily part of the generation Y and the millennials. As stated before in research, they are described as the parvenus consumer, also known as the ‘new money’. Although there are various archetypes of this specific generation, this particular consumer is one that is from a certain background and are experiencing a certain type of lifestyle.
7. To put my idea through the FCP lens, I had to question why I was exploring this topic and whom the results would benefit. From research it was clear to see that the way in which consumers were being grouped for their buying habits is changing, and in order for companies to keep up with this they need to adopt these innovative marketing strategies. The psychology behind buying habits is something that will always maintain similarities through the scientific aspects,
however, will forever alter due to the change in generations and consumer buying traits. A key psychological purpose behind why the consumer I have chosen to focus on, the ‘parvenus’ shopper, is to give of a false impression about the wealth of the individual. This predominantly makes them feel good about themselves and therefore is the mean reasoning behind the purchases in the first place (Page, 2015). Due to the main aspect of this topic being about the way people feel, for my final project a way in which this could be reflected is through an exhibition. It would take people through an experience of the way they would feel if they were to posses all of the items shown. This could be used as a marketing strategy for a company to begin building that narrative, that consumers buy into when purchasing luxury products. This idea is analyzed further throughout my SWOT analysis (see appendix 4).
FIG 7
8. different countries, but people with different demographics also. Following my return, I aim to speak to many people from each consumer group mentioned earlier in the report to get a real understanding of who they really are and the way in which the stereotypical ideologies add up. To further my research within this particular dissertation topic, I aim to get an insight into the current way in which brands are advertising across different countries in both Asia and Eastern Europe. Research showed that in previous years the same advertisements were targeting the mass market, which isn’t an advanced marketing strategy in order to increase sales for that particular brand. It will be interesting to see if this has changed at all over the past couple of years as well as if any advances have been made, not only targeting people in
Furthermore, I am going to widen my knowledge behind many aspects of psychology, not only within buying habits but general information on how the brain works, as this will give me a further understanding of the topic I aim to approach on a higher level. I will do this by reading books including ‘The Brain Book’ by Rita Carter and ‘Decoding the Irrational Consumer: How to Commission, Run and Generate Insights from Neuromarketing Research’ by Darren Bridger to expand my knowledge behind irrational consumer behavior as a whole.
FIG 8
9. Technology is endlessly changing and in this day and age, comes as no surprise. The real question is however; does it benefit the retail market? Social media is one of the largest talking topics of this generation due to their being 2.3 billion users and with this number to have risen by 176 million in the last year (Smith, 2016). However, this doesn’t necessarily benefit companies when it comes
to sales through advertising like you would expect it to. Figures from this same article show that e-mail and affiliate marketing dominated 70% of retail transactions in the study whilst 20% were impulse purchase leaving just 10% of sales to have come from social media advertising (Smith, 2016). I find this to be a very interesting concept due to the common knowledge that new technology creates new things, which therefore makes things better for the consumer. This factual piece of information brings me onto wonder if this information is directly reflected throughout in-store experiences or whether
technology has a different outcome within retail, determining the level of consumption. I want to explore this in depth further and gain an insight behind both the subtle and coarse use of technology when it comes to optimizing in-store experiences. After conducting a survey (see Appendix 5) it is clear to see from the results that a very low majority of people know what RFID Tracking Devises are which are used vastly throughout retail. I found this piece of information very interesting as not only are they used to create ease within in-store experience, they are used to manipulate the consumer into purchasing often unwanted items (Haven, 2014). I think that this is a very interesting topic to consider within the enhancement of technology, whether it’s because people don’t know about it, that it is enhancing sales or it’s the new innovative technology that is generating this affect. FIG 9
10. Taking this initial research into thought it has lead me to wonder if what I stated previously is actually true. Is the everlasting enhancement in technology really a good thing for retailers? I would like to believe that it is, due to the world we are living in today depending vastly on innovative technology releases, however throughout this research,
it is definitely something I would like to question. “Another company we have found trying to use this technology at the item level, they have basically backed down, realizing the consumers hate the idea of being tracked and traced. Nobody likes it” (McIntyre, 2014). This quote, written on an article about RDIF trackers was written in 2014 and therefore shows conceptions of consumer’s two years ago. Although from my primary research, RDIF trackers still aren’t very well known, it is interesting to see if peoples ideas have changed around them being in their clothing and their trust in new forms of technology.
FIG 10
11. Concerning the second idea proposed, I have created a cartogram in order to convey my secondary research (See appendix 6). After collecting, categorizing and analyzing my findings into each of the topics it was clear to see that this form of technology I aim to conduct research into further, is the type of thing that has been around since 2003 (Haven 2014). RFID trackers are devices that are put into many different things like clothes for example that can track the consumers actions either when looking at an item or carrying it around the store. In order to delve deeper into my research I looked further into the trend drivers of this trend, which I hoped would allow me to see how this could benefit businesses and their marketing strategies. Such tracking devices are being used in all
aspects of day to day life in products like shampoo bottles for example. For a company to be able to see these aspects of a consumer allows them to find out their likes and dislikes therefore allowing them to target certain marketing campaigns towards the people that it will affect most. However, the impact that this is having on the consumers is the sense of unease this particular type of technology produces. People don’t like the thought of being ‘followed’ by a computer chip 24/7 which therefore create consequences that it is unbeneficial to companies that are using this strategy (McIntyre, 2014). The future of this subject is targeting the generation Y consumers. They are tech savvy and aren’t new to the idea of innovation. They are the ‘digital natives’ that the future of this trend will be targeting through constant innovation when it comes to creating marketing strategies concerning technology.
FIG 11
12. Generation Y are the children of our future. The development in technology through the lifetime of these people is so vast that something new is no longer a novelty for them. They are also known as the ‘digital natives’ as stated before due to the fact that they are the people that put a lot of trust into technology as “Subsequently, every move they make is punctuated by technology and gadgets are as much a part of their life as food and toilet paper” (Generation Y, accessed on 23rd May 2016).
13. To put this idea into the FCP lens I again had to question as to whom my research findings would benefit. Due to the consumer I am focusing on, being the ‘children of our future’ I believe that the information I aim to provide will give advantage to retail companies throughout their up and coming marketing strategies. The development in technology is something that will never stop, nor slow down and companies need to take this on board with their consumers in mind in order to stay on track and in keeping with the market. Due to the fact that “generation Y are
plugged in 24/7”, (Munroe, 2014) gives me an understanding that whatever new, upcoming technology is being used will automatically without the blink of an eyelid be accepted into retail spaces by such generation. As part of my final project, a way in which I could reflect this research topic could be through the use of a pop up store. RDIF technology would be used throughout but very openly to the consumers exploring their emotions and responses behind advanced technology being used to create ease within retail, in-store experiences. This idea is analyzed further throughout my SWOT analysis (see appendix 7).
FIG 12
14. In order to conduct further research behind this topic I will use my summer experiences to their full potential. I am interning at a retail boutique based in Hertfordshire over the summer for three weeks where I will be able to gain a strong insight behind the way the company advertises online and tracks their sales from this form of advertisement. I can take this information and reflect it towards my knowledge of how this could correspond throughout in-store experiences. The way the boutique works in correlation to other retail stores is that it sells an experience. The consumer enters the shop and is greeted with a glass of champagne and a piece of cake before they are styled by the owner of the shop into the clothing that they desire. This is something that I will take information on allowing me to take perceptions from all aspects of in-store experiences.
Additionally, I am going to extend my knowledge through talking to a contact of mine, Ceri Hughes, National Account Manager at Stanley Security Solutions. He has expertise in the RTLS trackers (real time location systems) which correspond with the enhances in technology that I stated earlier, regarding the way in which companies can use rapid technology developments in their marketing strategies.
FIG 13
15. In conclusion I believe that the two topics that I have chosen, both correspond well with marketing within the fashion industry and have areas in which I can research to enhance companies within these subjects. The summer will allow me to complete this research planned, enabling me to gain cultural influences throughout my trips around both Asia and Europe, and get insights and experience from the Industry through my internship at the retail boutique over the next couple of months.
FIG 14
Appendix 1.
My strengths lie within communication and interaction with people. In order to be an events manager, I would have to incorstrengths lie within communication and porate ideas, be involved withMy the interaction with people. In order to be an manager, I would have to incorporate creative concept but most of events all, ideas, be involved with the creative concept most of all, be part of the execution be part of the execution teambut to team to create the events and therefore execute them to a high standard. create the events and therefore execute them to a high standard.
VM COPY WRITER STYLIST
EXECUTION
ART DIRECTOR CREATIVE DIRECTOR
CREATIVE CONCEPT DESIGNER STYLIST BRANDING EDITOR
THE BIG IDEA MARKETING TREND RESEARCH PR MERCHANDISING BUYER ECOMMERCE STUDIO MANAGER
CONTEXT
2.
3.
STRENGTH:
Can help businesses to develop their marketing strategies
WEAKNESSES:
Can’t specifically be classed as a trend
OPPRTUNITIES:
Growth in the luxury market
Luxury is a very small market segment
THREATS:
STRENGTH:
WEAKNESSES:
Tracking devices already used
4.
5.
6.
OPPRTUNITIES:
THREATS:
Growth in the luxury market
Luxury is a very small market segment
STRENGTH:
Can help businesses to develop their marketing strategies
OPPRTUNITIES:
WEAKNESSES:
Tracking devices already used in advertising
Constant development in technology
THREATS:
Legalization of companies using tracking devices
7.
List of Illustrations FIG 1. JANA ORSOLIC, (2012), My Belgrade Hanami [ONLINE]. Available at: http://janaorsolic.blogspot.co.uk/2012/04/my-belgrade-hanami.html [Accessed 29 May 2016]. FIG 2. Jeffrey Collingwood, (no date), Brain [ONLINE]. Available at: http://www.minddisorders.com/FluInv/Halstead-Reitan-Battery.html [Accessed 29 May 2016]. FIG 3. Patrick Cox, (2015), The all-white Patrick Cox store [ONLINE]. Available at: http://weburbanist.com/2010/12/06/radical-retail-design-14-shockingly-stylish-stores/ [Accessed 29 May 2016]. FIG 4. Banksy, (no date), The joy of not being sold anything [ONLINE]. Available at: http://www.ncregister.com/blog/simcha-fisher/the-joy-of-not-being-sold-anything [Accessed 29 May 2016]. FIG 5. The Centre, (2011), The high price of materialism [ONLINE]. Available at: https://www.youtube.com/watch?v=oGab38pKscw [Accessed 29 May 2016]. FIG 6. Daryl Feril, (2012), Brands in full bloom [ONLINE]. Available at: https://www.behance.net/gallery/Brands-in-Full-Bloom/4300265 [Accessed 29 May 2016]. FIG 7. HARUKA KOJIN, (2011), Contact Lens [ONLINE]. Available at: https://uk.pinterest.com/pin/18295942210144439/ [Accessed 29 May 2016]. FIG 8. Harper, (1885), EUROPE: The Whole Continent. [ONLINE]. Available at: http://www.antiquemapsandprints.com/europe-the-whole-continent-antique-mapharper1885-129630p.asp [Accessed 29 May 2016]. FIG 9. Lucy McRa, (2014), Blurring The Lines Between Art, Technology And The Human Form [ONLINE]. Available at: https://uk.pinterest.com/pin/493425702898374305/ [Accessed 29 May 2016]. FIG 10. Mike, (2015), Specialized Sensor Series #3 – RFID [ONLINE]. Available at: https://uk.pinterest.com/pin/493425702898374305/ [Accessed 29 May 2016]. FIG 11. Burberry, (2013), Burberry's flagship Regent Street Store [ONLINE]. Available at: http://www.theguardian.com/media-network/media-network-blog/2013/jan/15/luxury-retailers-in-storetech [Accessed 29 May 2016]. FIG 12. Hipstamatic, (2016), Chunky Lens [ONLINE]. Available at: http://gear.hipstamatic.com/lenses/chunky [Accessed 29 May 2016]. FIG 13. N/A, (2015), Boutique [ONLINE]. Available at: http://www.bbc.co.uk/news/blogs-magazine-monitor34504297 [Accessed 29 May 2016]. FIG 14. JANA ORSOLIC, (2012), My Belgrade Hanami [ONLINE]. Available at: http://janaorsolic.blogspot.co.uk/2012/04/my-belgrade-hanami.html [Accessed 29 May 2016].
s
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Sophie Crouchman N0557173